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Crypto Market Wrap: Sideways on Saturday, Markets Flat Following Recent Rout



Market Wrap

Crypto markets take a breath after recent dump; Bitcoin Cash and SV recovering, Tron dumping recent gains.

Crypto markets are still battered and bruised as we enter the weekend. There has been no sign of a recovery following the $16 billion rout over the past day or two. Total market cap is still a touch over $120 billion so the sideways channel has remained intact.

Following its 10% dump yesterday Bitcoin hit an intraday high of just over$3,700 before retreating back to the $3,670 level where it has remained for the past few hours. BTC is currently holding above the $3,600 support zone which is crucial if it is to prevent further losses.

Ethereum has not managed to reclaim its second place from XRP and is still below $130. The imminent Constantinople upgrade to the network is no longer a fundamental factor in the performance of ETH. As it has done since its inception it has been dragged down by Bitcoin again. XRP has made marginal gains on the day which has enabled it…





Read Full Story : NewsBTC

2019-01-12 08:00:32

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